Section 12J venture capital firm KNF Ventures has announced an undisclosed investment to acquire a meaningful minority equate stake in online ticketing service Quicket. The company is part of Knife Capital’s year-long entrepreneurship development programme, Grindstone.
The investment will not only allow Quicket to streamline its services in SA, but expand to the rest of Africa with the use of kiosks for a physical distribution network. In 2016, the company began its African expansion by executing events in Kenya and partnering with a ticketing company in Uganda.
In a press release to Ventureburn, investment partner at KNF Ventures, Keet van Zyl, said that Quicket “does not necessarily require funding as it currently almost doubles in revenue year-on-year off a decent base while being cash-flow positive.”
“We admire the team’s bootstrap tenacity and strong positive company culture. Through Grindstone we’ve implemented a few strategic interventions together and realised that there is a good cultural fit and a considerable gap in the African ticketing space if we accelerate the growth of Quicket together,” adds van Zyl.
Quicket is a self-managed online ticketing service that allows users to set up, sell tickets and market their own an event.
“As more companies, festivals, adventure sports, schools and individuals opt to plan and manage their own local events and meetings, the need for event-related technologies will continue to grow,” writes the director of Quicket, James Hedley.
“Our cloud-based technology platform allows us to provide a seamless user experience – whether it is for larger events where event management support may be required or for smaller self-managed events.”
KNF Ventures is managed by Knife Capital and invests up to R10-million in innovative companies with a proven track record.
Original Post by Ventureburn